Leading FMCG major Marico’s Board has announced a second interim dividend of Rs 6.50 per equity share of Re 1 each for the financial year 2023-24 on Tuesday.
The record date for determining eligible shareholders to receive the interim dividend has been fixed as March 6, 2024. The dividend payout is scheduled to be credited on or before March 28, 2024.
In an official filing to the exchanges, Marico stated, “Second Interim Equity Dividend for the financial year 2023-24 of Rs. 6.50/- per equity share of Re. 1 each. As intimated vide our letter dated February 19, 2024, the record date for reckoning the list of shareholders who shall be entitled to receive the said interim dividend shall be Wednesday, March 6, 2024. The Second Interim Equity Dividend will be paid to such shareholders on or before Thursday, March 28, 2024.”
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Additionally, Marico announced the appointment of Nikhil Khattau as an additional director (non-independent non-executive), effective from April 1. Khattau’s appointment is subject to approval by the shareholders, and he will be liable to retire by rotation.
Marico share price performance and financials
In terms of stock performance, Marico shares have demonstrated mixed returns across multiple time frames. Over the past 5 days the stocks have dipped over 3% but have sustained to give a postive returns of approx 2% in last one month. Talking about the long term returns the stocks have shown a further dip of 6% and in past one year the stocks have seen a jump of 7%.
Marico Shares Show Mixed Performance Across Time Frames
Marico shares have exhibited a diverse performance over various time frames. In the short term, over the past 5 days, the stocks have experienced a decline of over 3%. However, the one-month trend reflects resilience as the stocks have managed to secure positive returns of approximately 2%.
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Looking at the long-term scenario, there is a downturn, with a dip of 6% observed. On a brighter note, over the past year, the stocks have seen an upward surge, marking an impressive increase of 7%.
How has the company performed in last quarter
Marico announced its financial results for the third quarter ending on December 31, 2023, reporting a significant year-on-year (YoY) surge of 15.9% in net profit, totaling ₹386 crore.
However, the company’s revenue from operations experienced a marginal decline, contracting by 1.9% and amounting to ₹2,422 crore during the same period.
